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Real Estate
Reply to "MoCo “Attainable Housing” plan and property values"
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[quote=Anonymous][quote=Anonymous]PP again. For instance, in Bethesda and Chevy Chase, old houses get sold as tear downs. New, bigger houses go up in their place. Affordability declines but the neighborhood, by some measures, gets "nicer". Do the changes discussed in the report mean that more of these tear downs are going to be rebuilt as duplexes, triplexes and small apartment buildings? In the middle of what otherwise are suburban single family neighborhoods? If so, how can we tell if our house, street falls into such a (re) zone?[/quote] Yes, so the developer who buys the older house will either build a giant one that he can sell for $3M+ in these nicer neighborhoods or a fourplex he can sell for $1M+ per unit, making the neighborhood now more “attainable” because a family can buy in at $1M vs $3M. But none of it is affordable. [/quote]
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